Korea Investment CORP Has $13.97 Million Stock Position in Stellantis N.V. $STLA

Key Points

• Korea Investment CORP reduced its stake in Stellantis N.V. by 3.5%, holding 1,260,463 shares valued at approximately $13.97 million at the end of the first quarter.
• Other institutional investors, like Deutsche Bank AG and LPL Financial LLC, have also adjusted their positions in Stellantis, indicating strong interest with 59.48% of shares currently owned by institutional investors.
• Stellantis's stock has experienced recent downgrades from multiple analysts, with a consensus rating of "Hold" and a price target of $12.74.

Korea Investment CORP lessened its stake in Stellantis N.V. (NYSE:STLA - Free Report) by 3.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,260,463 shares of the company's stock after selling 45,095 shares during the quarter. Korea Investment CORP's holdings in Stellantis were worth $13,972,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in STLA. Deutsche Bank AG bought a new position in shares of Stellantis in the 1st quarter valued at $368,520,000. Jupiter Asset Management Ltd. bought a new position in shares of Stellantis during the first quarter valued at $1,755,000. LPL Financial LLC raised its position in Stellantis by 32.6% during the 1st quarter. LPL Financial LLC now owns 244,428 shares of the company's stock worth $2,740,000 after purchasing an additional 60,097 shares during the last quarter. Michels Family Financial LLC acquired a new position in shares of Stellantis in the fourth quarter worth approximately $375,000. Finally, Swiss National Bank lifted its position in shares of Stellantis by 0.8% in the 1st quarter. Swiss National Bank now owns 5,817,223 shares of the company's stock worth $64,526,000 after purchasing an additional 45,181 shares during the period. 59.48% of the stock is currently owned by institutional investors and hedge funds.

Stellantis Trading Down 1.4%

Shares of Stellantis stock opened at $9.6350 on Friday. The company's 50-day moving average price is $9.66 and its 200-day moving average price is $10.61. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 0.37. Stellantis N.V. has a 12-month low of $8.39 and a 12-month high of $16.92. The company has a market cap of $29.13 billion, a price-to-earnings ratio of 2.83, a PEG ratio of 0.58 and a beta of 1.45.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on STLA shares. Wolfe Research downgraded Stellantis from a "peer perform" rating to an "underperform" rating in a research note on Wednesday, July 2nd. Bank of America downgraded Stellantis from a "buy" rating to a "neutral" rating and cut their price target for the company from $16.50 to $11.75 in a research note on Monday, July 7th. Finally, Jefferies Financial Group upgraded shares of Stellantis from a "hold" rating to a "buy" rating and increased their target price for the company from $10.25 to $13.20 in a report on Wednesday, June 25th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $12.74.

About Stellantis

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide. It provides luxury and premium vehicles; sport utility vehicles; American and European brand vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.

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